Data Licensing Listing Syndication MLS (Multiple Listing Service) Uncategorized

Toward a Better Consumer Internet Experience

Redfin CEO Glenn Kelman raises some interesting points in today’s article in Inman News as he argues that brokers and the listing search portals need to work together to give real estate consumers a cohesive online experience. Glenn maintains that:

  • The goal for a broker isn’t to get more traffic than a national portal, it’s just to get more traffic than the broker had before.
  • A model of Internet coexistence based on national breadth and local depth will give the consumer the most complete real estate experience, but we need to make a few simple changes through our MLSs to create a balanced Internet ecosystem
  • Brokerage sites, including Redfin, should drive more traffic to listing brokers
  • Brokers should support the portals as a directory, not a destination, for brokers’ listings
  • Portals should advertise listings only while the listings are for sale — But the portals often keep these property details on their sites in perpetuity, without regard for local privacy customs, removing only the attribution to the broker who provided the data.
  • Brokers should ask the MLSs to represent brokers on syndication — Given the asymmetry in negotiating power and expertise between the portals and a local broker, the brokers need the MLSs to negotiate and monitor compliance on our behalf, but more aggressively than the MLSs have in the past.

Speaking to the issue of some portals continuing to use the listing data and property photos even after the property is off the market, please comment on what’s the accepted practice in your marketplace. It wouldn’t surprise me to find out that most brokers are unaware the portals take the position that they have the right to use the data and photos in perpetuity. What are your thoughts?

Source: Inman News

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